Signet Bank (former Bank M2M Europe) is convenient and professional private banking that was founded in 1992 and has been working till 2013 under the brand name Latvijas Biznesa banka.
In May 2013, a banker and a co-owner of the group VMHY Andrei Vdovin bought 100% of shares of Latvijas Biznesa banka and later that year in June the Bank M2M Europe was founded. This is the only bank in Latvia specializing exclusively on servicing wealthy clients.
In September 2017, European Central Bank (ECB) and Financial and Capital Market Commission of Latvia authorized a group of international investors – Signet Global Investors Ltd, SIA Hansalink and SIA Fin.lv for gaining a significant influence in Bank M2M Europe. As a result of a deal Signet Global Investors Ltd owns 25% of shares of the bank, SIA Hansalink – 22,3%, and SIA Fin.lv – 8,79%. In such a manner since the October 2017 the bank operates under a new name and at the same time implements new brand Signet Bank AS Latvia.
TO OPEN AN ACCOUNT IN SIGNET BANK
For natural persons – 200 EUR.
For legal entities – 650 EUR.
This sum of money is written off after the first entrance of cash means.
Minimum balance at the account (for natural persons and legal entities) – 100 000 EUR.
This amount can be in a form of account balance, deposit or securities portfolio.
The bank has no representative offices in other countries.
Via software – Internet Bank.
Account maintenance for natural persons:
- in case the securities portfolio is lower than 500 000 EUR (per six months) – 100 EUR/six months;
- in case the securities portfolio is higher than 500 000 EUR (per six months) – free of charge.
Account maintenance for legal entities:
- in case the securities portfolio is lower than 500 000 EUR (per six months) – 350 EUR/six months;
- in case the securities portfolio is higher than 500 000 EUR (per six months) – 150 EUR/six months.
Current account closing – 200 EUR.
Serving international clients or a group of clients - 3 000 EUR/year.
A service fee is not charged if:
- the average amount of funds deposited in the bank by a client or a group of clients within 12 months reaches 1 000 000 EUR;
- the amount of the commission paid for the bank's services within 12 months by a client or a group of clients reaches 7 000 EUR.
More detailed information concerning tariffs can be found on the website of the bank.
Account opening consists of two stages: preparatory stage and opening of the account.
Preparatory stage includes gathering and providing the documents needed for account opening, preparation and signing of bank forms. The term of this stage depends on you.
The procedure of consideration the documents and reaching the decision by bank regarding opening an account takes from 2 weeks since the documents and forms have been delivered to the bank.
Signet Bank follows KYC policy and reserves the right to require additional documents what may lead to account opening term exceeding, as well as refusing of account opening without reasons explanation.
Russian/English speaking.
MasterCard.
Crediting, fiduciary services, trade finance, safes.
Application forms are to be provided during the personal meeting with private-banker (the meeting can be held in our office).
Company’s documents – originals of all statutory company’s documents need to be provided. In case that from the date of company incorporation has passed more than one year, the Certificate of Good Standing is required (duly legalized and apostilled).
Documents for the account holder:
- original of internal passport;
- original of foreign passport (in case of presence of it).
Documents for the beneficiary:
- original of internal passport;
- original of foreign passport (in case of presence of it);
- CV;
- documents proving your degree and professional expertise (diploma, certificates etc.);
- employment certificate or copy of employment records book;
- any documents proving the beneficiary holds shares of other resident companies;
- documents proving property’s ownership (certificates from the Registry on ownership of movable and immovable property);
- bank statements as of beneficiary’s accounts at other banks (deposit data, balance details).
You need to fill electronically and send us back the survey questionnaire. A completed questionnaire will be sent to the bank for analysis. In case the bank approves an account opening we will arrange a personal meeting of the attorney and beneficiary owner with the bank’s private-banker.
For further consultation concerning the terms of account opening in Signet Bank (Latvia) please contact our office. We will respond to any questions you may have and will help you open an account in Latvian Signet Bank or any other bank out of 70 foreign banks you may choose from.
